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FY 2000-2001 -- Comprehensive Annual Financial ReportP.O. Box 9960 . February 15, 2002 Honorable Mayor Members of the City Council City of College Station, Texas The Comprehensive Annual Finallcial Report of the City of College Station, Texas ("City"), for the fiscal year ended September 30, ~~OO1, is submitted herewith as mandated by the City's Charter and state statutes. The charter and statutes require that the City issue annually a report on its financial position and activity and that this rl~port be audited by qualified public accountants. The City employs Ingram, Wallis & Company to audit the financial section of this report. The City's Accounting Division of the Fiscal Services Department prepares this financial report. Responsibility for the accuracy of the presented data and the completE~ness and fairness of the presentation, including all disclosures, rests with the City. Both City Staff and the auditors believe that the data, as presented, is accurate in all material respects; that it is pre~;ented in a manner designed to fairly set forth the financial position of the City's various funds and account groups; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial affairs are included. The Comprehensive Annual Financial Report is presented in three major sections: introductory , financial, and statistical. The intrcductory section, which is unaudited, includes this transmittal letter, the City's organizational chart and a list of principal elected and appointed officials of the City. The financial section includes the gene,ral purpose financial statements, the combining and individual fund and account group financial stater1ents and schedules, as well as the auditors' report on the financial statements and schedules. The statistical section, whic:h is unaudited, includes selected financial and demographic information, gerlerally presented on a multi-year basis to allow for trend analysis of the finances of the City. The City is required to undergo an annual single audit in c:onformity with the provisions of the Federal Single Audit Act of 1986, as amended, and U.S. Office of Management and Budget Circular A-133, Audits of States, Local Govemme.'1ts, and Non-Profit Organizations. Information related to this single audit, including the supplementary schedule of expenditures of federal and state awards, findings and recommendations, and audit)rs' reports on the system of internal control and compliance with applicable laws and regulations, are reported separately. This report includes all funds and account groups of the City. The City provides a full range of municipal services. These services include police and fire protection; the construction and maintenance of streets, storm dr;3inage, and other infrastructure; municipal utilities in the areas of electric, water, sewer, and sanitation; and recreational and cultural activities. The College Station Independent School District is administered by a separately elected board and operates with its own funding SOL rces; therefore, it is not included in this report. 3 [ome of Texas A&M Universitv Embracing the Past, Exploring the Future.-- llQl Texas Avenue. College Station, TX 77842 .(979) 764-3500 www .ci.college-station.tx.us 9 Revenue Source Fiscal Year Ended 9/30/01 Percent of Total Fiscal Year Ended 9/30/00 Increase (Decrease) General Fund Property Tax $3,813,167 10.14 %$3,420,720 $392,447 Sales and Mixed Drink Tax 13,031,079 34.64 12,759,591 271,488 Franchise Fees 1,644,627 4.37 1,577,815 66,812 Licenses and Permits 779,159 2.07 680,776 98,383 Fines, Forfeits and Penalties 1,796,203 4.78 1,393,505 402,698 Charges for Services 1,892,964 5.03 1,681,877 211,087 Operating Transfers In 6,895,193 18.33 6,303,785 591,408 Miscellaneous Revenues 1,750,703 4.65 1,622,967 127,736 Other Financing Sources 24,329 0.07 55,403 (31,074) Debt Service Property Tax 5,986,114 15.92 5,546,863 439,251 Total Revenues and Other Financing Sources $37,613,538 100.00 %$35,043,302 $2,570,236 Almost all revenues were up in fiscal year 2001 over fiscal year 2000 increasing by more than $2.5 million or 7.3%. The most significant absolute change in revenue sources from 2000 to 2001 was Operating Transfers In which increased by approximately $591,000. The increase was 9.4% due to increases in transfers to the General Fund and to the Debt Service Fund to pay for projects funded through other sources. Ad valorem taxes to the General and Debt Service Funds together increased by $831,698 or a year to year change of 9.3 percent. The increased tax revenue was due to increased property values and continuation of the same ad valorem tax rate. Franchise Fees increased by 4.2 percent as a result of growth in the number of customers for the local telephone, cable, and natural gas companies, and a rate change by TXU Gas. Charges for Services increased on a year to year basis by 12.6 percent due to continued efforts to allow users of specific services to pay for those services and to increased revenues from emergency medical transports. Fines and Penalties were up by 28.9 percent due to both increased enforcement activity and to increased fine amounts. REVENUES BY SOURCE GENERAL AND DEBT SERVICE FUNDS FISCAL YEAR 2001 $ 37,613,538 Sales Tax and Mixed Drink Tax 34.64% Other 20.97% Operating Transfer In 18.33%Property Tax 26.06% 10 Property taxes received during fiscal year 2001 were based on a tax levy of 42.93 cents per $100 of assessed valuation. Under Texas statutes, assessed valuation represents 100 percent of market value. The total assessed valuation of taxable properties was $2,273,664,174, which represents a 9.6 percent increase from fiscal year 2000. The increase was caused by the completion of several major retail stores along with strong building activity in the single family and multifamily residential sector. Distribution of property tax rates for the last five years is as follows: Purpose 2001 2000 1999 1998 1997 General Fund $0.1662 $0.1631 $0.1618 $0.1516 $0.1602 Debt Service Fund 0.2631 0.2662 0.2675 0.2777 0.2825 Total Ad Valorem Tax Rate $0.4293 $0.4293 $0.4293 $0.4293 $0.4427 General Fund and Debt Service Fund Expenditures and Other Financing Uses. The following schedule presents a summary of General Fund and Debt Service Fund expenditures for the fiscal year ended September 30, 2001. Comparisons to the previous fiscal year are included. Function Fiscal Year Ended 9/30/01 Percent of Total Fiscal Year Ended 9/30/00 Increase (Decrease) Current: General Government $8,783,263 23.56 %$7,812,664 $970,599 Police 8,273,632 22.20 7,567,620 706,012 Fire 5,702,804 15.30 5,179,104 523,700 Public Works 4,583,796 12.30 4,353,073 230,723 Parks and Recreation 5,185,737 13.91 5,168,231 17,506 Library Services 581,768 1.56 600,778 (19,010) Less: Reimbursed Administrative Costs (5,287,928)(14.19)(4,645,701)(642,227) Other 606,757 1.63 545,248 61,509 Debt Service: Principal 4,475,000 12.01 3,460,000 1,015,000 Interest and Fiscal Charges 3,213,770 8.62 2,122,927 1,090,843 Debt Issuance Costs 38 0.00 0 38 Other 11,426 0.03 0 11,426 Capital Outlay 376,328 1.01 397,312 (20,984) Operating Transfers Out 767,000 2.06 1,114,298 (347,298) Total Expenditures and Other Financing Uses $37,273,391 100.00 %$33,675,554 $ 3,597,837 Year to year expenditure changes for the General and Debt Services Funds can be attributed to a number of general factors and a few specific decisions. The general factors include salary and benefit changes and increases related to policies that set aside funds for future replacements. These changes affect all departments. The council gave direction to focus on staff salaries to bring salaries in line with similar employees in similar cities. The salary increases are the single most significant change affecting expenditures over the past two years and will contribute to spending changes into fiscal year 2002. New positions in Police, Fire, Development Services, General Government and Parks contributed to the year to year changes in expenditures. Additional authorization for street and drainage maintenance also contributed to the total increase. Debt Service increases resulted from issuing additional debt based on voter approved bonds and other debt issued for capital projects. The net change in Reimbursed Administrative Costs was associated with services provided to other operations of the City and relates to normal increases in costs. General and Administrative costs are 11 reviewed annually and costs are distributed to each of the operating funds based on that review. The item listed as "Other" is related to the non-departmental expenditures of the City and is used for funding of non-City activities and certain one-time projects not related to a particular department. The decrease in expenditures from fiscal year 2000 to fiscal year 2001 is due to fewer funds being allocated for one-time projects that were funded from the General Fund. General Fund Balance. The unreserved and undesignated fund balance of the General Fund increased by $1,004,517 in 2001, an 11.3 percent increase from fiscal year 2000. The City Council policy on reserve levels requires that the undesignated fund balance be at least equal to 15 percent of expenditures. The undesignated fund balance of $8,772,212 is approximately 30.45 percent of fiscal year 2001 expenditures and exceeds the minimum requirement set by the Council policy. Utility Enterprise Funds. The City of College Station operates electric, water, sewer, and solid waste services for the benefit of its citizens. The City purchases 100 percent of its electric power requirement from Texas Utilities. The City is served through two 138 kVA transmission lines tied to a ring bus at the City switching station, four substations, and 290 miles of distribution lines. The electric utility ended the fiscal year with working capital of $14,783,863 a decrease of $6,658,457 or 31.1 percent from fiscal 2000. Much of the decrease was due in large part to the City’s decision to use current resources to provide for capital requirements for the electric system and certain other capital acquisitions. This strategy will help to maintain a high debt to equity ratio and maintain relatively low annual debt service payments. This strategy also allows the utility more flexibility as it faces the challenges of deregulation within the electric utility industry. The City’s policy with regard to its enterprise funds is to maintain at least 15 percent of annual expenses in working capital. At September 30, 2001, Electric Fund working capital equalled approximately 38.2 percent of total operating expenses. EXPENDITURES BY FUNCTION GENERAL AND DEBT SERVICE FUNDS FISCAL YEAR 2001 $ 37,273,391 Debt Service 20.66%PARD 13.91% Public Works 12.30% General Government 9.37% Other 6.26% Public Safety 37.50% 12 Since 1981, the City has had the capability to produce and deliver 100 percent of its water needs through its own water well and transmission system. The water production and transmission system includes five wells with a combined capacity of 19.5 million gallons per day, and a delivery system of 14 miles of 30-inch diameter pipeline with two pumping stations. Working capital in the Water Fund at the end of fiscal year 2001 was $9,575,193, down approximately 0.4 percent from fiscal 2000. Water Fund working capital was 174.7 percent of total operating expense and exceeds the minimum requirement for the fund under the Council's adopted policy. In fiscal year 2000, the City continued using current resources to do some capital projects rather than issuing debt. This strategy should help the City maintain its current rates without rate increases into the foreseeable future. The Carter Creek Treatment Plant has a rated treatment capacity of 9.5 million gallons per day (mgd). The Lick Creek Treatment Plant, the newer of the two plants, came on-line during 1988 and has a 500,000 gallons per day treatment capacity. The two plants have a combined treatment capacity of 10.0 mgd as compared to average current daily demand of 6 mgd. The Sewer Fund ended the fiscal year with a working capital balance of $3,032,376, which was 0.6 percent above fiscal year 2000. Wastewater Fund working capital was 62.5 percent of total operating expenses and is well above the minimum requirement for the fund. Sanitation services are provided to the citizens through a combination of residential curbside pick-ups and commercial container services. For fiscal year 2001, the Sanitation Fund ended the fiscal year with a working capital balance of $1,665,634, a decrease of 28.7 percent from fiscal year 2000. This decrease resulted from a combination of decisions: 1) a one-time transfer of cash to assist in building an office building, along with water and wastewater funds and issuance of certificates of obligation, 2) increased spending due to an additional commercial route and 3) a lower than expected revenue increase resulting from an increase in commercial rates to pay for the additional commercial route. Summary financial information of the combined utility enterprise operations for the fiscal year ended September 30, 2001, with comparison to the previous fiscal year, is as follows: Fiscal Year Ended 9/30/01 Fiscal Year Ended 9/30/00 Operating Revenues: Charges for Services: Electric $42,290,635 $35,295,718 Water 8,072,508 8,703,923 Sewer 7,045,955 6,992,172 Sanitation 4,035,385 3,764,215 Other 1,775,758 1,986,696 Operating Expenses: Salaries and Benefits 5,931,861 5,747,451 Supplies, Maintenance and Services 38,909,602 31,313,020 Reimbursed Administrative 4,166,242 3,569,149 Depreciation 3,676,882 3,669,798 Other 615,575 274,414 Nonoperating Revenues (Expenses): Investment Income 2,886,561 2,580,558 Interest Expense (2,402,956)(2,161,994) Other, Net 1,374,888 871,496 Operating Transfers Out (14,057,673)(9,923,785) Net Income (Loss)$(2,279,101 )$3,535,167 15 The City separates the investment activities from traditional banking services. Regular banking services are handled under a three-year depository agreement effective October 1, 2000, with First American Bank. The City pays fees based on the activity level for the various services provided by its depository bank. The City currently invests funds in a range of investments allowable under state law. The City establishes accounts with major brokerages for the purchase and sale of U.S. Government and Agency obligations. All purchases and sales of securities are on a delivery-versus -payment basis through a safekeeping account at the City's third-party bank. As of September 30, 2001, the City's investment portfolio consisted of the following: Bank Demand Accounts $ 511,019 Flex Repurchase Agreement 37,477,423 State Investment Pool 17,064,251 U.S. Treasury Securities 5,623,444 U.S. Government Agencies and Instrumentalities Securities 53,043,677 Total $113,719,814 The City earned $6,481,436 on an average investment balance of approximately $108 million, a rate of return of 5.98 percent, for the year ended September 30, 2001. Compared to prior years' earnings of $5,591,017 and a market benchmark of 5.35 percent, the City's investment yield was: Investment results on the portfolio are compared to US Treasury note with a maturity that most closely matches the portfolios dollar-weighted average maturity. Every Thursday a T-Bill matures and proceeds are reinvested alternately in three month and six month T-Bills. This rolling index provides a benchmark for evaluating risk-free cash management portfolios with short-term liquidity needs for payroll and accounts payable. Risk Management. The City's insurance programs are administered by the Risk Management Division of the Fiscal Services Department. The City's workers' compensation claims are handled by Texas Municipal League Intergovernmental Risk Pool. Property and liability claims are paid from a self-insurance reserve fund carried to provide for claims of $25,000 or less with third party carriers providing for claims in excess of that amount up to $1,000,000. Safety programs are coordinated on an ongoing basis by the Risk Manager. 0% 2% 4% 6% 8% 10% '97 '98 '99 '00 '01 RATES OF RETURN City ROR Benchmark ROR OTHER INFORMATION Independent Audit. State stcltutes reql.Jire an annual audit by independent certified public accountants. The accounting firrn of Ingrarn, Wallis & Company, P. C. has been retained by the City Council for this function. In addition to meE~ting the requirements set forth in state statutes, the audit also was designed to meet the requiremerlts of the Federal Single Audit Act, as amended, of 1996 and related OMB Circular A-133 The inde!pendent auditors' report on the general purpose financial statements and combining, individual fund and account group statements and schedules is included in the financial section of this re~lort. The auditors' reports related specifically to the single audit are issued separately. The Government Finance Officers Association of the United States and Canada ("GFOA") awarded a Certificate of Achievement for E~cellence irl Financial Reporting to the City of College Station for its Comprehensive Annual Financial Report ("CAFR") for the! fiscal year ended September 30, 2000. The Certificate of Achievement is a presti,gious national award recognizing conformance with the highest standards for preparation of state arld local government financial reports. In order to be awarded a Certi11cate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such CAFf~ must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is v31id for a ~)eriod of one year only. The City of College Station has received a Certificate of Achievernent seventeen of the last eighteen years. We believe our current report continues to conform to the Certific:3te of Achievement program requirements, and we are submitting it to the GFOA. Acknowledaments. The preparation of this report on a timely basis could not have been accomplished without the efficient and dedicated services of the entire staff of the Fiscal Services Department. We would like to express olJr appreciation to all members of the department who assisted and contributed to its preparation. We would also like to thank the Mayor and City Council for their interest and support in ,:>Ianning and conducting the financial operations of the City in a responsible and progressive manner. Finallly, we would like to thank our auditors, Ingram, Wallis & Company, P. C., whose professional expertise and advice have resulted in continuing improvements in the quality of the City's financial reporting. Respectfully submitted, -~~ Thomas E. Brymer City Manager 16 Charles Cryan Director of Fiscal Services IN':JRAM, WALLIS & COMPANY A PROFESSIONAL CORPORATION Certified Public Accountants 2100 Villa Maria, Suire 100 BRYAN, TEXAS 77802 James D Thomas James D Richard TELEPHONE (979) 776-2600 TELECOPIER (979) 774-7759 E:MAIL iwc@ingram-wallis.com Judith w. Childs Kenneth W. Chumchal Jennifer A. Stillman Melanie R. Bingham Melissa R. Meier Donald B. Browning Margine V. Porter INDJEPENDENT AUDITORS' REPORT Mayor Lynn Mcllhaney, Members of the City Council atld City Manager of the City of College Station, Texas We have audited the accompan)ring general purpose financial statements of the City of College Station, Texas (the "City"), as ofand for the year ended September 30,2001, as listed in the table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amount~i and disclosures in the general purpose financial statements. An audit also includes assessing thl~ accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general pull)ose financial statements referred to above present fairly, in all material respects, the financial position of the City, as of September 30,2001, and the results of its operations and the cash flows of its proprietary fund types and nonexpendable trust funds for the year then ended in conformity with ,lccounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated January 18,2002, on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit per1:Ormed in accordance with Government Auditing Standards and should be read in conjunction Wilth this report in considering the results of our audit. 23 , Ingram, III A. Wallis Ingram, IV L. Webb 175 STATISTICAL SECTION 176 CITY OF COLLEGE STATION, TEXAS GENERAL GOVERNMENTAL REVENUES AND OTHER FINANCING SOURCES (1) LAST TEN FISCAL YEARS Fiscal Year General Property Tax Franchise Fees Sales & Mixed Drink Tax Licenses & Permits Fines, Forfeits & Penalties 1992 1,376,970 358,949 7,209,497 216,886 684,098 1993 1,627,228 407,168 7,995,877 445,585 893,649 1994 2,086,274 358,392 8,776,093 557,440 915,126 1995 2,365,740 485,368 9,008,363 523,725 1,003,547 1996 2,632,408 1,876,572 (2)9,605,208 513,624 1,342,865 1997 2,733,016 1,088,349 9,929,157 487,300 1,177,057 1998 2,753,863 1,415,464 11,107,446 577,032 1,233,604 1999 3,139,361 1,523,736 11,662,546 643,968 1,208,499 2000 3,420,720 1,577,815 12,759,591 680,776 1,393,505 2001 3,813,167 1,644,627 13,031,079 779,159 1,796,203 (1)Revenues presented include the General and Debt Service Funds. (2) Increase due to a one-time recovery of back franchise fees in the amount of $1.2 million. Source: City of College Station 10.0 20.0 30.0 40.0 Dollars (millions)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01S1 Fiscal Year Total General Governmental Revenues & Other Financing Sources (for the last ten fiscal years) 177 GENERAL GOVERNMENTAL REVENUES AND OTHER FINANCING SOURCES (1) LAST TEN FISCAL YEARS Charges for Services Operating Transfers All Other Other Financing Sources Debt Service Property Tax Total $720,068 $3,889,872 $577,129 $1,241,463 $3,125,805 $19,400,737 904,004 4,266,504 800,690 68,213 3,351,369 20,760,287 1,066,268 4,407,529 760,676 2,731,232 3,634,353 25,293,383 1,181,703 4,915,000 1,009,282 3,478,224 4,124,236 28,095,188 1,249,491 5,523,091 962,608 199,300 4,583,665 28,488,832 1,250,952 5,387,075 1,304,713 6,828,120 4,801,894 34,987,633 1,368,883 5,396,700 1,324,899 32,375 5,024,027 30,234,293 1,463,432 5,664,744 1,414,194 22,082 5,133,118 31,875,680 1,681,877 6,303,785 1,622,967 55,403 5,546,863 35,043,302 1,892,964 6,895,193 1,750,703 24,329 5,986,114 37,613,538 178 CITY OF COLLEGE STATION, TEXAS GENERAL GOVERNMENTAL EXPENDITURES AND OTHER USES BY FUNCTION (1) LAST TEN FISCAL YEARS Fiscal Year General Government Police Fire Public Works Parks and Recreation 1992 4,934,782 3,862,849 3,034,046 2,108,406 2,576,106 1993 5,289,911 4,054,244 3,331,309 2,266,145 2,838,541 1994 5,923,568 4,715,064 3,454,391 2,533,983 3,083,389 1995 6,832,606 5,041,596 3,827,835 2,428,727 3,629,244 1996 6,669,982 5,357,437 3,887,596 3,554,664 3,820,477 1997 7,005,557 5,860,586 3,898,305 3,142,284 4,146,567 1998 6,264,446 6,289,005 4,195,334 3,821,635 4,263,428 1999 7,045,038 6,903,838 4,841,832 3,923,009 4,592,990 2000 7,812,664 7,567,620 5,179,104 4,353,073 5,168,231 2001 8,783,263 8,273,632 5,702,804 4,583,796 5,185,737 (1)Expenditures presented include the General and Debt Service Funds. (2)Includes refunding of $3,460,000 of short term debt. Source: City of College Station 10.0 20.0 30.0 40.0 Dollars (millions)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Total General Governmental Expenditures and Other Uses (for the last ten fiscal years) 179 CITY OF COLLEGE STATION, TEXAS GENERAL GOVERNMENTAL EXPENDITURES AND OTHER USES BY FUNCTION (1) LAST TEN FISCAL YEARS Library Services Capital Outlay Reimbursed Administrative All Other Debt Service Operating Transfers Out Total $0 $329,269 $(2,591,911)$572,578 $4,843,605 $0 $19,669,730 283,478 412,314 (2,843,580)398,100 3,508,905 0 19,539,367 282,255 1,120,536 (2,886,557)251,454 3,320,922 445,000 22,244,005 327,393 480,470 (2,966,008)298,041 7,364,085 (2)2,438,668 29,702,657 326,310 593,796 (3,371,737)314,767 5,601,567 80,500 26,835,359 367,545 365,591 (3,240,805)336,410 4,517,030 6,761,040 33,160,110 546,437 641,779 (3,683,731)448,263 4,607,064 2,478,117 29,871,777 571,742 659,861 (4,034,541)344,589 4,997,131 757,030 30,602,519 600,778 397,312 (4,645,701)544,170 5,582,927 1,115,376 33,675,554 581,768 376,328 (5,287,928)606,757 7,700,234 767,000 37,273,391 180 CITY OF COLLEGE STATION, TEXAS PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Fiscal Year Total Tax Levy Tax Collections Percent of Levy Collected Delinquent Tax Collections 1992 $4,506,448 $4,373,907 97.06 %$77,220 1993 4,902,798 4,816,407 98.24 107,407 1994 5,681,754 5,591,040 98.40 129,587 1995 6,471,493 6,403,250 98.95 86,727 1996 7,171,715 7,086,990 98.82 74,982 1997 7,506,754 7,433,046 99.02 60,133 1998 7,758,131 7,688,127 99.10 50,005 1999 8,292,212 8,164,162 98.46 59,095 2000 9,068,352 8,866,966 97.78 47,940 2001 9,939,852 9,684,038 97.43 62,887 Source: City of College Station 3.5 4.5 5.5 6.5 7.5 8.5 9.5 10.5 11.5 Dollars (millions)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Total Tax Collections (for the last ten fiscal years) 181 CITY OF COLLEGE STATION, TEXAS PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Total Tax Collections Total Collections as a Percent of Current Levy Outstanding Delinquent Taxes Outstanding Delinquent Taxes as a Percent of Current Levy $4,451,127 98.77 %$363,933 8.08 % 4,923,814 100.43 324,685 6.62 5,720,627 100.68 282,137 4.97 6,489,977 100.29 249,879 3.86 7,161,972 99.86 233,927 3.26 7,493,179 99.82 215,100 2.87 7,738,132 99.74 233,548 3.01 8,223,257 99.17 200,077 2.41 8,914,906 98.31 134,418 1.48 9,746,925 98.06 248,883 2.50 182 183 CITY OF COLLEGE STATION, TEXAS ASSESSED VALUE OF TAXABLE PROPERTIES (1) LAST TEN FISCAL YEARS Fiscal Year Land and Improvements Personal Property and Minerals Less Exemptions and Abatements Less TIF (2) Captured Value Total 1992 $1,013,892,433 $150,886,397 $38,166,827 $0 $1,126,612,003 1993 1,184,748,445 168,378,927 164,570,381 0 1,188,556,991 1994 1,145,143,509 172,473,765 41,945,080 0 1,275,672,194 1995 1,315,229,397 183,852,688 44,813,941 0 1,454,268,144 1996 1,500,298,696 158,694,184 47,371,511 0 1,611,621,369 1997 1,699,990,449 235,332,211 234,121,234 5,526,343 1,695,675,083 1998 1,813,136,426 251,996,841 245,085,209 12,889,738 1,807,158,320 1999 1,946,701,852 261,317,181 276,453,209 18,504,453 1,913,061,371 2000 2,134,828,786 285,990,138 308,471,247 37,318,353 2,075,029,324 2001 2,357,679,796 303,435,454 345,752,888 41,698,188 2,273,664,174 (1) Assessed Value is 100% of the estimated actual value. (2) Tax Increment Financing District (TIF) Sources:Brazos County Appraisal District 2000 Certified Appraisal Roll 1.00 1.20 1.40 1.60 1.80 2.00 2.20 2.40 Dollars (billions)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Assessed Value of Taxable Properties (for the last ten fiscal years) 184 CITY OF COLLEGE STATION, TEXAS PROPERTY TAX RATES, RATIOS AND LEVIES ALL DIRECT AND OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARS Tax Rates (2) (Per $100 of Assessed Value) Fiscal Year (1)City School County Total (3) 1992 $.4000 $1.680 $.439 $2.5190 1993 .4125 1.680 .439 2.5315 1994 .4450 1.630 .434 2.5090 1995 .4450 1.610 .418 2.4730 1996 .4450 1.610 .410 2.4650 1997 .4427 1.690 .418 2.5507 1998 .4293 1.740 .417 2.5863 1999 .4293 1.750 .417 2.5967 2000 .4293 1.750 .417 2.5967 2001 .4293 1.750 .410 2.5893 (1)Tax rates are established by each taxing jurisdiction on an annual basis for revenues to be collected in the following fiscal year. (2)The date that taxes are due for all jurisdictions is October 1. Taxes for all jurisdictions become delinquent on February 1. The penalty is set by state law at 6% in February, and an additional 1% per month up to 12%. The interest is accrued at 1% per month. (3)The upper limit of the tax rate is set at $2.50/$100 of assessed value for each jurisdiction by State Statute. This limit is for both operations and debt service combined. Source: Brazos County Appraisal District 185 CITY OF COLLEGE STATION, TEXAS PROPERTY TAX RATES, RATIOS AND LEVIES ALL DIRECT AND OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARS Tax Ratios Original Tax Levies City School County City School County 100 %100 %100 %$5,130,768 $18,612,589 $12,184,729 100 100 100 4,902,806 21,608,259 12,789,846 100 100 100 5,681,754 23,390,262 13,374,336 100 100 100 6,471,498 26,261,015 14,211,900 100 100 100 7,171,715 28,663,937 15,071,727 100 100 100 7,506,754 31,524,892 15,968,203 100 100 100 7,758,131 33,969,261 17,043,370 100 100 100 8,292,212 36,786,152 17,749,813 100 100 100 9,068,352 39,822,571 18,917,599 100 100 100 9,939,852 44,121,783 20,283,475 0.0 0.5 1.0 1.5 2.0 2.5 Dollars(per $100 of Assessed Value)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Property Tax Rates (for the last ten fiscal years) City School County 186 CITY OF COLLEGE STATION, TEXAS PAVING ASSESSMENT COLLECTIONS LAST TEN FISCAL YEARS Fiscal Year Current Assessment Assessment s Collected Percentage of Assessments Collected (%) Total Outstanding Assessments 1992 $0 $4,682 2.27%$201,608 1993 0 58,358 28.95 143,250 1994 0 4,779 3.34 138,471 1995 0 59,141 42.71 79,330 1996 0 17,217 21.70 62,113 1997 0 2,152 3.46 59,962 1998 0 36,367 60.65 23,595 1999 0 503 2.13 23,092 2000 0 1,296 5.61 21,796 2001 0 350 1.61 21,446 Source: City of College Station Fiscal Services Department 187 CITY OF COLLEGE STATION, TEXAS COMPUTATION OF LEGAL DEBT MARGIN SEPTEMBER 30, 2001 The City has no general obligation legal debt limit other than a ceiling on the tax rate as specified by the State of Texas. The prescribed maximum is $2.50 per $100 at 100% valuation. 188 CITY OF COLLEGE STATION, TEXAS RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS Fiscal Year Estimated Population Assessed Value Gross Bonded Debt 1992 53,686 (1)$1,126,612,003 $21,103,590 1993 54,449 (1)1,188,556,991 19,014,385 1994 56,374 (1)1,275,672,194 17,028,340 1995 58,627 (1)1,454,268,144 25,722,210 1996 60,040 (1)1,611,621,369 22,263,475 1997 61,525 (1)1,701,201,476 25,388,915 1998 63,130 (1)1,807,158,320 28,960,000 1999 66,200 (1)1,913,061,371 32,750,000 2000 68,038 (2)2,075,029,324 38,700,000 2001 70,308 (1)2,273,664,174 39,375,000 (1)Source: Metropolitan Planning Organization & City of College Station Planning Division (2)Source: U.S. Government Preliminary Census 189 CITY OF COLLEGE STATION, TEXAS RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS Less Debt Service Cash Funds Net Bonded Debt Ratio of Net Bonded Debt To Assessed Valuation Net Bonded Debt Per Capita $856,151 $20,247,439 1.80 $377 870,035 18,144,350 1.53 333 1,364,212 15,664,128 1.23 278 1,845,774 23,876,436 1.64 407 1,189,570 21,073,905 1.31 351 1,947,403 23,441,512 1.38 381 2,826,148 26,133,852 1.45 414 3,472,280 29,277,720 1.53 442 4,202,042 34,497,958 1.66 507 1,722,254 37,652,746 1.66 536 275 325 375 425 475 525 575 Dollars'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 S1 Fiscal Year Net Bonded Debt per Capita (for the last ten fiscal years) 190 CITY OF COLLEGE STATION, TEXAS SCHEDULE OF DIRECT AND ESTIMATED OVERLAPPING DEBT SEPTEMBER 30, 2001 Net Debt City's Share Taxing Body Amount As Of Percent Amount Per Capita * ESTIMATED OVERLAPPING DEBT College Station I.S.D. (1)$ 66,917,802 8/31/01 100.00% $ 66,917,802 $952 Brazos County (2)0 9/30/01 0.00 0 0 Bryan I.S.D. (3)65,999,479 8/31/01 0.00 0 0 66,917,802 952 NET BONDED DEBT City of College Station(4)37,652,746 9/30/01 100.00 37,652,746 536 NET BONDED AND ESTIMATED OVERLAPPING DEBT $ 104,570,548 $ 1,488 * Population: 70,308 (1) Source: College Station Independent School District (2) Source: Brazos County Auditor (3) Source: Bryan Independent School District (4) Source: City of College Station Finance Department 191 CITY OF COLLEGE STATION, TEXAS RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION DEBT TO TOTAL GENERAL GOVERNMENTAL EXPENDITURES AND OTHER USES LAST TEN FISCAL YEARS Fiscal Year Principal Interest, Fiscal and Other Charges Total Debt Service Total General Governmental Expenditures and Other Uses Ratio 1992 $3,332,876 $1,510,729 $4,843,605 $19,669,730 24.62% 1993 2,111,906 1,396,999 3,508,905 19,539,367 17.96 1994 2,066,045 1,254,877 3,320,922 22,244,005 14.93 1995 5,796,130 (1)1,519,907 7,316,037 29,702,657 24.63 1996 3,938,735 1,660,441 5,599,176 26,835,359 20.86 1997 2,694,075 1,738,745 4,432,820 33,160,109 13.37 1998 3,113,915 1,483,793 4,597,708 29,871,777 15.39 1999 2,845,000 2,141,792 4,986,792 30,602,519 16.30 2000 3,460,000 2,122,927 5,582,927 33,675,552 16.58 2001 4,475,000 3,222,734 7,697,734 37,273,391 20.65 (1)Includes refunding of $3,460,000 of short term debt. Source: City of College Station 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 Dollars (millions)'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Ratio of Annual Debt Service Expenditures for General Obligation Debt to Total General Governmental Expenditures and Other Uses (for the last ten fiscal years) Debt Service Expense General & Other Total 192 CITY OF COLLEGE STATION, TEXAS UTILITY FUNDS SCHEDULE OF REVENUE BOND COVERAGE LAST TEN FISCAL YEARS Fiscal Year Operating Revenues Operating Expenses (Excluding Depreciation) Net Revenues Average Total Annual Coverage Maximum Total Annual Coverage 1992 $37,524,486 $27,463,001 $10,061,485 $2,186,415 4.60 $4,144,820 2.43 1993 39,637,874 28,912,833 10,725,041 1,683,197 6.37 4,176,525 2.57 1994 (1)48,291,091 36,190,720 12,100,371 1,553,305 7.79 4,176,525 2.90 1995 (1)47,365,953 34,682,369 12,683,584 2,819,408 4.50 6,099,551 2.08 1996 (2)45,380,036 32,395,644 12,984,392 2,655,401 4.89 6,089,271 2.13 1997 48,615,366 29,608,260 19,007,106 2,968,110 6.40 6,388,449 2.98 1998 49,966,216 27,885,854 22,080,362 3,014,943 7.32 5,906,739 3.74 1999 49,101,104 30,080,145 19,020,959 2,844,899 6.69 5,502,384 3.46 2000 52,932,584 37,149,229 15,783,355 3,472,421 4.55 5,687,161 2.78 2001 63,367,846 49,872,302 13,495,544 4,688,518 2.88 6,395,244 2.11 (1) In Fiscal Year 1994, the Utility Billing Fund was combined with the Electric Fund for reporting purposes. (2) In Fiscal Year 1996, the Utility Billing Fund was reported separately as an Internal Service Fund. Source: City of College Station 193 CITY OF COLLEGE STATION, TEXAS CONSTRUCTION PERMITS LAST TEN CALENDAR YEARS Residential Commercial Total Year Number of Permits Value Number of Permits Value Number of Permits Value 1992 511 $31,503,185 162 $11,648,580 673 $43,151,765 1993 576 38,141,976 203 27,288,295 779 65,430,271 1994 583 64,673,810 225 20,505,039 808 85,178,849 1995 634 28,514,709 102 38,130,694 736 66,645,403 1996 656 48,953,298 131 14,432,979 787 63,386,277 1997 590 53,435,022 212 47,682,555 802 101,117,577 1998 655 69,831,880 150 57,439,865 805 127,271,745 1999 1,020 87,917,466 138 26,665,024 1,158 114,582,490 2000 639 85,278,855 162 46,094,230 801 131,373,085 2001 782 79,340,756 191 40,194,722 972 119,535,478 Source: City of College Station Building Division 100 300 500 700 900 1100 1300 Number Issued'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 Fiscal Year Construction Permits (for the last ten fiscal years) Residential Commercial 194 CITY OF COLLEGE STATION, TEXAS PRINCIPAL TAXPAYERS SEPTEMBER 30, 2001 Taxpayer Type of Business 2001 Assessed Valuation Percent of Total Assessed Valuation C.B.L. and Associates Retail Mall $ 48,617,375 2.14% W9/JP-M Real Estate Ltd Housing 40,630,000 1.79 Verizon Communications, Inc.Utility 35,241,110 1.55 Universal Computer Services, Inc.Retail 31,696,491 1.39 Alkosser/Weinberg et al Housing 30,674,775 1.35 College Station Hospital, L.P.Medical 25,132,560 1.11 Walmart/Sam’s Retail 19,667,890 0.87 University Commons-Phases 1&2 Housing 18,408,250 0.81 SHP – The Callaway House LP Housing 16,200,000 0.71 Melrose Apartments Housing 16,000,000 0.70 TOTAL $ 282,268,451 12.42% Source: Brazos County Appraisal District 195 CITY OF COLLEGE STATION, TEXAS PRINCIPAL UTILITY CUSTOMERS SEPTEMBER 30, 2001 Utility Customer Type of Business FY 2001 KWH Consumption Total Percent of KWH Consumed 303,988College Station Independent School District Schools $16,892,390 2.74 % CBL & Associates Retail Mall 14,625,093 2.37 City of College Station Municipality 14,330,746 2.32 Wal-Mart Stores Inc.Retail 7,886,037 1.28 Albertsons Retail Grocery 7,588,281 1.23 Krogers Retail Grocery 7,449,600 1.21 State Headquarters Building/ Texas A&M University University 7,413,019 1.20 College Station Hospital, L.P.Medical 6,724,480 1.09 Lane C/S Ltd PSP Hotel 5,134,800 0.83 Dealer Computer Services Technical Support 4,656,400 0.75 TOTAL $92,700,846 15.02 % Total KWH Consumption for the period October 1, 2000 to September 30, 2001 was 616,916,432. Source: City of College Station Utility Billing Division 303,988 196 CITY OF COLLEGE STATION SUMMARY OF INSURANCE COVERAGE September 30, 2001 Insurance Company Coverage Self Insured Retention Limits Texas Municipal League Worker Compensation $0 Statutory Texas Municipal League General Liability $25,000 per $1,000,000 per Law Enforcement Liability occurrence occurrence $2,000,000 annual aggregate Texas Municipal League Errors & Omissions Liability $25,000 per $3,000,000 per wrongful act wrongful act $6,000,000 annual aggregate Texas Municipal League Automobile Liability $25,000 per $1,000,000 per occurrence occurrence Texas Municipal League Auto Physical Damage $25,000 per Actual cash value vehicle Texas Municipal League Real & Personal Property $25,000 per Replacement cost/ occurrence $72,796,385 annual aggregate Texas Municipal League Mobile Equipment $25,000 per Actual cash value/ occurrence $5,065,221 annual aggregate Texas Municipal League Boiler & Machinery $25,000 per $5,000,000 per accident accident Texas Municipal League Public Employee Dishonesty $5,000 per $1,000,000 year annual limit 197 CITY OF COLLEGE STATION, TEXAS MISCELLANEOUS STATISTICAL AND DEMOGRAPHIC DATA SEPTEMBER 30, 2001 Date incorporated October 1938 Date first charter adopted October 1938 Date present charter amended May 1992 Form of government Council-Manager Area in square miles: Year Square Miles 1938 1.5 1948 4.2 1958 7.3 1968 17.3 1978 22.6 1982 23.8 1986 26.7 1988 27.7 1992 28.1 1994 30.0 1996 38.2 1998 40.8 Miles of streets Paved Unpaved 712 Miles 1.3 Miles Miles of sidewalks 89 Miles Fire Protection: Number of stations 4 Number of full-time employees 81 Police Protection: Number of employees (sworn)100 Number of employees (civilian)43 Number of patrol units 25 One jail facility with a capacity of 37 Recreation: Number of playgrounds 35 Number of basketball courts 21 Number of swimming pools 3 Number of soccer fields 13 Number of softball/baseball fields 19 Number of tennis courts 12 Number of picnic shelters 17 Number of gyms 3 Number of volleyball courts 8 Number of nature trails 9 Number of open play areas 25 Number of picnic pavilions 10 Number of jogging/walking trails 20 (Continued) 198 CITY OF COLLEGE STATION, TEXAS MISCELLANEOUS STATISTICAL AND DEMOGRAPHIC DATA SEPTEMBER 30, 2001 (Continued) Parks: Facility Acres Facility Acres Anderson Park 8.9 Merry Oaks 4.6 Arboretum 17.0 Oaks Park 7.5 Bee Creek Park 26.5 Parkway 1.9 Bill Madeley Park 5.1 Pebble Creek Park 10.2 Brison Park 9.2 Pebble Hills 3.2 Brother's Pond Park 16.1 Raintree 13.0 Castlegate 4.35 Richard Carter Park 7.1 College Station Central Park 47.2 Sandstone 15.2 Conference Center 2.3 Shenandoah 12.1 Cy Miller Park 2.5 Southwest Park Site 4.8 Eastgate 1.8 Southwood Complex 44.7 Edelweiss 12.3 Steeplechase Park Site 8.9 Edelweiss Gardens 7.74 Thomas Park 16.1 Emerald Forest Park 4.6 University Park Site 10.2 Gabbard Park 10.7 Veterans Athletic Park 150.0 Georgia K. Fitch 11.3 W.A. Tarrow Park 21.3 Hensel Park - TAMU 29.7 Westfield 4.29 Jack and Dorothy Miller Park 10.0 Windwood 1.4 Lemon Tree Park 15.4 Wolfpen Creek Park 19.9 Lick Creek Park 515.5 Woodcreek Park 6.6 Lincoln Center 8.0 Woodway Park Site 9.3 Lion's Park 1.5 Longmire Park 4.2 Luther Jones 1.8 TOTAL ACREAGE 1,145.98 Utility Funds: Electric Customers (Connections)27,113 Average Electrical Consumption:51,409,703 KWH/Month Water Customers (Connections)15,524 Average Water Consumption:295,875 MGW/Month Number of Employees: Electric 48 Water 24 Sewer 34 Water Capacity: Number of Wells 5 Combined Capacity of Wells 20,000,000 GAL/day Number of Ground Storage Tanks, 2 Total capacity 8,000,000 GALS Number of Elevated Storage Tanks, 2 Total capacity 3,000,000 GALS Miles of Water Lines 280 Miles (Continued) 199 CITY OF COLLEGE STATION, TEXAS MISCELLANEOUS STATISTICAL AND DEMOGRAPHIC DATA SEPTEMBER 30, 2001 (Continued) Electric Capacity: Maximum Capacity 255 megawatts Annual Peak Demand 145 megawatts Number of Substations 4 Miles of Distribution Lines 333 Miles Miles of Sewer Lines 243 Miles Solid Waste Collection Fund: Number of Users (Units)28,894 Methodology Curbside pickup using automated containers Education: Attendance centers 11 Number of classrooms 503 Number of teachers 570 Number of students 7,438 Elections: Number of registered voters: Last general election (Brazos County)88,331 Last municipal election 41,151 Number of votes cast in: Last general election (Brazos County)3,929 Last municipal election 1,768 Percentage of registered voters voting in: Last general election (Brazos County)4.5% Last municipal election 4.3% Population: Estimate 2000 68,038 Census Count 1990 52,456 1980 37,296 1970 17,676 1960 11,396 1950 7,925 Source: City of College Station (Continued) 200 CITY OF COLLEGE STATION, TEXAS MISCELLANEOUS STATISTICAL AND DEMOGRAPHIC DATA SEPTEMBER 30, 2001 (Continued) ACTUAL TEXAS A&M UNIVERSITY ENROLLMENT BY FALL SEMESTERS Year University Enrollment 1992 41,092 1993 42,524 1994 42,018 1995 41,790 1996 41,892 1997 41,461 1998 43,389 1999 43,442 2000 44,026 2001 44,618 Source: TAMU Planning & Institutional Analysis, October 2001 PRIMARY LABOR FORCE FOR COLLEGE STATION Year Total Labor Force Number Employed Number Unemployed Percent Unemployed 1992 25,561 24,777 784 3.1 1993 26,490 25,745 745 2.8 1994 27,312 26,546 766 2.8 1995 27,430 26,561 869 3.2 1996 26,691 25,973 718 2.7 1997 28,453 27,862 591 2.1 1998 28,889 28,377 512 1.8 1999 30,793 30,246 547 1.8 2000 31,273 30,802 471 1.5 2001 30,572 30,020 552 1.8 Source: Texas Workforce Commission (Austin, Texas)